In the Arab world, Dubai also leads on a few indicators including direct investment flows inward, ‘government consumption expenditure – real growth,’ export concentration by partner and tourism receipts.

Economic diversification contributed to 72.2% of the total economic growth achieved last year. Dubai ranked eighth in the world for diversification of the economy, ahead of developed economies like Switzerland, Japan, France and the United Kingdom.

The report also ranked Dubai first among Arab countries, and ninth globally in direct investment flows inward (6.42% of GDP) with a stock of $73.8 billion, ahead of the US, Australia, Canada, Germany, France, and China.

Dubai also ranked second in the MENA region and twelfth globally in foreign direct investment abroad (4.51% of GDP) and a total stock of $28.8 billion.

Commenting on the report, Dubai Crown Prince Sheikh Hamdan Bin Mohamed hailed Dubai’s “unique experience of ambitious people and a pioneering government,” and highlighted the private sector as the key to achieving the desired future.

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